Nigeria Roundup: Floods, rising cerebrospinal meningitis cases, oil bunkering operation
Funding and women's growth
Women entrepreneurs in Nigeria who tend to repay loans faster than their male counterparts are facing challenges despite a lower loan default rate. Women primarily rely on microfinance institutions for funding but are less likely to receive loans or tend to receive smaller amounts. A report by Moniepoint reveals that 40.2% of women use personal savings for their businesses, while only 16.7% secure loans from financial institutions, often borrowing from family and friends instead. Women in the beauty and personal care industry face significant difficulties in obtaining external funding. The funding gap persists across various factors, indicating systemic barriers that hinder the growth of women-owned businesses in Nigeria, Africa Business Insider reports.
Floods
The recent floods in Maiduguri, Nigeria, have led to the intrusion of dangerous animals, such as crocodiles and snakes, into residential areas. The Borno Museum Park reported that over 80% of its animals perished due to the flooding, prompting a warning for residents to remain vigilant. The flood considered the worst in decades, has displaced thousands and damaged essential facilities, Zaywa reports. President Bola Tinubu has directed the National Emergency Management Agency (NEMA) to provide urgent assistance to those affected.
Economic growth through cultural promotion
The Ministry of Arts, Culture, and Creative Economy has partnered with Pure Imagination Production & Filmworks for the third season of Nigeria’s Got Talent, aiming to enhance talent development and cultural promotion in Nigeria. The Sun reports that this collaboration aligns with the government's goal to diversify the economy through the creative sector. Over 15,000 participants will benefit from the Creative Leap Accelerator Program (CLAP), which provides training, mentorship, and resources to foster innovation and support creatives. The show will highlight Nigeria's cultural heritage and showcase talents across 15 cities, airing in early 2025 on multiple platforms, including Netflix and YouTube.
Oil bunkering operation
Nigerian Army units recently intercepted a major illegal oil bunkering operation, seizing over 198,000 litres of stolen crude oil from a barge linked to the Nigerian National Petroleum Company (NNPC) in Rivers State. The operation was part of an ongoing effort to dismantle criminal networks in the Niger Delta, which has seen the recovery of over 280,000 litres of stolen oil and the discovery of 63 illegal bunkering sites in the past week. According to Offshore Technology, the army also dismantled four illegal refining sites and has been actively clamping down on illegal pipeline connections. Nigeria has faced significant challenges with oil theft, leading to substantial economic losses, including a reported daily crude oil loss of 470,000 barrels in September 2022.
Cerebrospinal meningitis
Nigeria has reported 4,915 suspected cases of cerebrospinal meningitis and 361 deaths across 24 states during the 2023/2024 seasons, marking a 157% increase from the previous year. The NCDC confirmed that 44% of samples tested positive, with Neisseria meningitides serogroup C responsible for 90% of cases. The most affected age group is 5 to 15 years, with 60% of cases being male. Punch Nigeria reports that the five hardest-hit states are Yobe, Bauchi, Jigawa, Katsina, and Gombe, accounting for 93% of reported cases.
